What Do Experts Say About Home Price Growth Over the Next 5 Years?
If you buy a home now, how much will the price increase in the next five years? This is a topmost question many homebuyers are asking.
Ryan Haley, owner and broker of Atlantic Shores Sotheby’s International Realty, gives the experts’ perspective on home price increase in five years.
The home price expectation survey that came out on June 1, 2021, offers an insight into the potential home price growth over five years.
What the report says is that if you have purchased a $350,000 home in January 2021, the potential growth in household wealth in the next five years, based solely on the increase in the home equity or home value, is $93,621.
This is not the speed that we are currently seeing in the last year and a half, but it going to continue to rise, according to experts’ projections. Therefore, a house that sold for $350,000 would sell for $443,629 in five years.
This is something to truly think about. If you are an investor and are thinking of the quickest way to obtain wealth in the long run, then home ownership is a great option.
It is still an incredible opportunity to buy since we are going to continue to see prices increase.
If you are looking to buy or sell a home in Maryland or in Delaware, email us or call us at 410.524.0919.